Legislative researchers already have projected the state will end its current fiscal year on June 30 with a $141 million budget deficit. They also say if the problems aren't addressed, the shortfall between anticipated revenues and current spending commitments will surpass $1 billion by June 30, 2010.

Preliminary figures from the Department of Revenue showed the state collected almost $482 million in general tax revenues in December. But financial forecasters had predicted more than $519 million in tax collections — a difference of $38.6 million.

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